Limbach (NASDAQ:LMB) Shares Gap Down – Here’s What Happened

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) gapped down before the market opened on Wednesday . The stock had previously closed at $81.67, but opened at $79.12. Limbach shares last traded at $80.8350, with a volume of 42,127 shares trading hands.

Analyst Upgrades and Downgrades

LMB has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Limbach in a report on Monday, December 29th. Zacks Research raised shares of Limbach from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Stifel Nicolaus decreased their price target on shares of Limbach from $119.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, December 16th. Finally, Wall Street Zen lowered Limbach from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $133.50.

Limbach Trading Down 1.7%

The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $933.48 million, a P/E ratio of 26.40 and a beta of 1.26. The business’s fifty day simple moving average is $75.92 and its two-hundred day simple moving average is $100.33.

Limbach (NASDAQ:LMB) last posted its quarterly earnings results on Tuesday, November 4th. The construction company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.04). Limbach had a net margin of 6.06% and a return on equity of 30.80%. The firm had revenue of $184.58 million during the quarter, compared to analyst estimates of $184.48 million. During the same period last year, the company earned $0.62 EPS. The company’s revenue was up 37.8% on a year-over-year basis. As a group, analysts forecast that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Limbach declared that its Board of Directors has approved a stock repurchase program on Monday, December 15th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the construction company to purchase up to 5.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Limbach news, insider Jay Sharp sold 2,000 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $77.98, for a total value of $155,960.00. Following the sale, the insider owned 64,979 shares of the company’s stock, valued at $5,067,062.42. The trade was a 2.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 10.20% of the stock is owned by corporate insiders.

Institutional Trading of Limbach

Several institutional investors have recently made changes to their positions in LMB. Comerica Bank increased its stake in Limbach by 24.0% in the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after acquiring an additional 167 shares during the period. Caxton Associates LLP boosted its holdings in Limbach by 4.9% during the third quarter. Caxton Associates LLP now owns 3,624 shares of the construction company’s stock valued at $352,000 after purchasing an additional 168 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Limbach by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,835 shares of the construction company’s stock valued at $537,000 after purchasing an additional 204 shares during the period. Opal Wealth Advisors LLC acquired a new position in shares of Limbach in the 2nd quarter worth approximately $32,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Limbach by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,059 shares of the construction company’s stock worth $451,000 after buying an additional 241 shares during the period. 55.85% of the stock is currently owned by institutional investors and hedge funds.

About Limbach

Limbach Holdings, Inc (NASDAQ: LMB) is a U.S.-based mechanical construction firm specializing in the design, installation and maintenance of heating, ventilation and air conditioning (HVAC) systems, piping, plumbing and sheet metal fabrication. The company delivers comprehensive mechanical solutions to commercial, institutional, health care, education, government and industrial clients, drawing on its in-house engineering, prefabrication and construction management capabilities.

The company’s service offerings encompass full-scope mechanical construction, including energy system design, direct digital controls and building automation, retrofits, testing and balancing, preventive maintenance programs and emergency response services.